Global Smart Machines Market Expected to be valued at US$ 258.5 Bn by 2024

The Global Smart Machines are expected to be valued at US$ 258.5 Bn by 2024 end and expand at a CAGR of 18.8% during the forecast period (2016–2024). Among all machine types segment, autonomous cars are projected to be the fastest-growing segment over the forecast period. This is attributed to various car manufacturers focusing on building autonomous cars that drive users around safely. Top manufacturers with an established customer base are expected to introduce more autonomous cars, with advanced driver-assistance systems in the near future. This is expected to result in the introduction of new mobility models such as connectivity with other cars/drivers on the road for better safety.

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The smart machines market in Asia-Pacific held the largest market share in 2015. Revenue contribution of APEJ smart machines market in global smart machines market is expected to increase at a CAGR of 19.7% from 2016 to 2024. The smart machines market in Europe is anticipated to gain 54 BPS points in 2026 as compared to that in 2015. This is attributed to increasing demand for smart machines in European countries for the automation of various industrial, construction, and assembly line processes.

The U.S. accounted for more than 90% market share of the North America smart machines market in the year 2015. The market in Mexico accounted for 27% market share of Latin America smart machines market and is expected to show a significant growth rate of nearly 16.1% over the forecast period.

Enterprises have been realizing the importance of speech processing as it provides better mobility to their customers. Voicing commands are proving to be a faster and easier way of accessing information. Therefore, enterprises are focusing on investing in improving their speech processing models.

Currently, there is an increasing preference for more connectivity, especially in a case of smart wearable and hand held gadgets by customers. Syncing of smart phones, tablets, cars, and wearable devices leads to a generation of vast amounts of data (big data). Hence, this big data creates enormous opportunities for various enterprises to improve their business processes.

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Key players in the global smart machines market include Apple Inc., Google Inc., Microsoft Corporation, BAE Systems, Creative Virtual Ltd., Digital Reasoning Systems, Inc., IBM Corporation, Narrative Science Inc., Rethink Robotics, ABB Limited, Rockwell Automation, Inc., and General Electric Co. others.

Company Profiles (Overview, Revenue, Products & Services)

Alchemy API Inc.
Apple Inc.
Digital Reasoning
Google Inc.
IBM Corporation
Narrative Science Inc.
Microsoft Corporation
BAE Systems
Creative Virtual
Rethink Robotics
Other

Key Segments Covered

By Component
Hardware
Software
Service
By Machine Type
Robots
Autonomous cars
Drones
Wearable device
Others
By Technology
Cloud Computing technology
Big Data
Internet of everything
Robotics
Cognitive Technology
Affective Technology
By Vertical
Manufacturing
Transportation & Logistics
Healthcare
Consumer Goods and Retail
Aerospace & Defence
Others

On the basis of machine type, the global smart machines market has been segmented into robots, autonomous cars, drones, wearable devices, and others. Enterprises are expected to invest more in R&D activities for wearable technology due to the increasing need of mobility. Smart watches provide better accessibility, with the option of syncing with smartphones. Introduction of new applications such as those that track fitness activity and monitor health according to the user’s need are the latest trends in wearable devices. Smart technology embedded in clothes is also a new trend in wearable devices. On the basis of component, the global smart machines market has been segmented into hardware, software, and service. A detailed analysis has been provided for every segment in terms of market size analysis for smart machines across the globe.

In addition, it is imperative to note that in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR, but also analyze on the basis of key parameters such as Year-on-Year (Y-o-Y) growth to understand the predictability of the market and identify the right opportunities.

Another key feature of this report is the analysis of all key segments in terms of absolute dollar. This is usually overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve, as well as to identify potential resources from a sales and delivery perspective in the global smart machines market.

Key Regions/Countries Covered       

North America
S.
Canada
Latin America
Brazil
Mexico
Rest of Latin America
Europe
Germany
France
K
Italy
Russia
Poland
Spain
Nordic
Benelux
Rest of Europe
Asia Pacific
China
India
Japan
Australia and New Zealand
ASEAN
Rest of APAC
The Middle East & Africa
GCC
North Africa
South Africa
Rest of MEA

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